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JSW shelves cricket plans
The Saudi Gazette Published in The Saudi Gazette on 17 - 07 - 2015


MUMBAI — India's JSW Group, a $11 billion conglomerate with interests ranging from steel to power, is shelving plans to buy a cricket team in the highly profitable Indian Premier League, blaming the “negative aura” of the corruption-hit competition. Some of India's biggest corporate names are investors in teams competing in what is the world's most lucrative cricket league — including Reliance Industries Ltd, builder GMR Infrastructure Ltd, and United Spirits Ltd , owned by British beverages group Diageo Plc. Local media had reported that JSW, controlled by billionaire Sajjan Jindal, was in talks with Diageo to buy United Spirits' stake in Royal Challengers Bangalore in a $100 million deal. — Reuters

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